Market Share of Air Conditioning Equipment Industry
The air conditioning equipment landscape is highly competitive, with several local and international players active. International participants operate in the country through partnerships with regional players. With the market expected to broaden and yield more opportunities, more players are expected to enter. The key players in the market studied include Mitsubishi Electric and Johnson Controls, among others. These major players have adopted various growth strategies, such as mergers and acquisitions, new product launches, expansions, joint ventures, partnerships, and others, to strengthen their position in this market.
- March 2024: Mitsubishi Electric Trane HVAC US LLC (METUS) announced the introduction of Premier Wall-mounted Indoor Units (MSZ-GS/MSY-GS). At the same time, Premier MSZ-GS Indoor Units are compatible with single-zone and multi-zone heat pump outdoor units, including single- and multi-zone Hyper-Heating INVERTER (H2i) units. The MSY-GS is a single-zone, cooling-only air conditioner for climates with unnecessary heating.
- February 2024: Daikin Industries Ltd enhanced its air conditioners by focusing on critical elements. This includes shifting to HFC-32, an R32 refrigerant with low global warming potential, emphasizing its eco-friendliness and energy efficiency. Additionally, Daikin has bolstered the fundamental performance of its air conditioning units. In a significant move, Daikin is set to launch the VRV 7 multi-air conditioner series for buildings in November 2024. This series boasts the industry's top energy efficiency and is pivotal in lessening environmental footprints and operational burdens.
Air Conditioning Equipment Market Leaders
Daikin Industries, Ltd.
Hitachi Ltd.
Johnson Controls
Electrolux AB Corporation
Mitsubishi Electric Corporation
*Disclaimer: Major Players sorted in no particular order
